LONDON — European markets are set for a modestly higher open on Monday, tracking Friday’s positive close stateside on the back of a strong round of economic data.
The pan-European Stoxx 600 index closed out last week in positive territory after November’s U.S. jobs report showed a surprise drop in unemployment.
The S&P 500 notched a new high for the year after the University of Michigan consumer survey data signaled resilient economic activity and cooling inflation, igniting hopes for a much-coveted “soft landing” scenario in the U.S.
Stock futures on Wall Street were little changed in early premarket trade on Monday, as investors look ahead to this week’s Federal Reserve meeting in the hope for signals as to when policymakers will begin cutting interest rates.
Markets in Asia-Pacific diverged significantly overnight. Chinese stocks slid after data showed persistent deflationary pressures in the world’s second-largest economy, driven by weak domestic demand.
Japanese shares jumped as bets built that the Bank of Japan may keep interest rates unchanged at its meeting next week.